On May 21, 2021, in the first pre-reorganization case of the Fuzhou Intermediate People's Court, the reorganization plan of Fujian Shidai Hua'ao Construction and Development Co., Ltd. and Fujian Shenghua Real Estate Development Co., Ltd. was approved by the creditor groups with a majority of votes. Except that employees and tax creditors whose claims were repaid in full did not vote and the home buyers already voted yes in an earlier vote, the creditors with property guarantee and the capital contributors all voted yes, and in the ordinary creditors' rights group, more than 90% of the votes by the number of persons and the share of the creditor's rights they represented were affirmative. On June 25, Fuzhou Intermediate People's Court ruled to approve the reorganization plan and terminate the reorganization procedure, marking the successful reorganization of the Guigu property project that covers more than a thousand mu of land and owes more than RMB 5 billion in nearly 1,400 debts.